CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended mixed
 Wednesday, after a choppy, two-sided session, as the market continued its
 consolidation from Monday's speculative selloff. 
  
   November soybeans ended 1/4 cent lower at $6.24 3/4, December soymeal settled
 $1.00 lower at $193.80 a short ton, while December soyoil ended 32 points
 higher at 22.84 cents a pound. 
  
   The market struggled to find lasting momentum with technical weakness and
 bearish near-term weather outlooks applying pressure, while spillover strength
 from soyoil and corn futures managed to generate support, analysts said. 
  
   The quiet, two-sided theme was consistent throughout the day, as the absence
 of fresh fundamental influences failed to provide lasting momentum. Forecasts
 calling for a rain system to bring beneficial moisture to the Midwest Thursday
 through Saturday pressured futures initially. 
  
   However, support from a commercial-led rally in soyoil futures coupled with
 speculative fund buying after the market held recent lows provided a spark to
 lift prices from their lows, said Mark Weidner, analyst with Cargill Investor
 Services in Chicago. 
  
   This support managed to underpin prices, but the debate over if current rains
 can stabilize or improve crop yields kept a defensive tone in the market and
 promoted the two-sided theme, Weidner added. 
  
   On tap for Thursday, the U.S. Department of Agriculture is scheduled to
 release its weekly export sales report at 7:30 a.m. CDT (1230 GMT). Analysts
 anticipate commitments in the range of 100,000 to 200,000 metric tons. 
  
   In pit trades, Fimat bought 1,500 November, Rand Financial bought 500
 November, RJ O'Brien and Refco each bought 600 November, and ADM Investor
 Services and Citigroup each bought 300 November. 
  
   On the sell side, ABN Amro sold 400 September, Refco and Shatkin/Arbor each
 sold 500 November, and Citigroup and Iowa Grain each sold 200 November. 
  
   South American soybean futures ended mixed as well, with the September
 futures settling 2 cents higher at $6.49. 
  
  
    Soy Products 
  
  
   Soymeal futures ended modestly lower, grinding out losses after a two-sided
 session, keeping pace with the directionless action in soybeans. 
  
   Soyoil futures ended firm, emerging as the strongest leg of the soy complex.
 Commercial buying served as the catalyst to ignite the upward theme, with
 speculative buying coming onboard to propel prices firmly into positive
 territory. 
  
   The market effectively stabilized from its recent descent amid ideas of
 exhausted downside momentum. The day's action firmed oil share and the crush. 
  
   December oil share advanced to 37.08%, and the November/December crush was at
 52 3/4 cents. 
  
   In soymeal trades, Cargill bought 200 September and 200 December, Cargill
 Investor Services bought 200 September, and Refco bought 200 October, 200
 December and 200 May. Bunge Chicago sold 400 October, Fimat and Tenco each sold
 200 September, Cargill sold 200 December. 
  
   In soyoil trades, Bunge Chicago bought 200 December, Cargill bought 300
 September, 400 October and 200 December, Iowa Grain bought 600 December, and
 Calyon Financial and Goldenberg Hehmeyer each bought 200 December. Selling was
 scattered among various firms, with Refco a seller of 200 December. 
  
   Commodity funds were estimated buyers of 2,000 contracts.